TMSF Wins $6.8 Billion Claim Against Cem Uzan in France
The International Tribunal ruled that the TMSF won its $6.8 billion claim against Cem Uzan in France after five years of legal proceedings following an investigation into his role at Crédit Lyonnais and other banks where he allegedly facilitated money laundering for French pension funds, resulting in him being found liable to pay compensation under EU law rather than face criminal charges or prison time as previously feared by Turkish authorities.
Key Points
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1Cem Uzan lost a $6.8 billion compensation lawsuit in France after five years of litigation.
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2The French court ruled that the Turkish state was right, resulting in an unfavorable verdict for Cem Uzan and TMSF combined.
Developments
Perspectives
Cem Uzan lost a $6.8 billion compensation lawsuit.
— [Mar 13, 09:57] Tmsf Cem Uzan 68 Milyar Dolarlik Tazminat Davasini Kaybetti (Diken.com.tr)The Turkish state is being vindicated after the international court ruled in its favor.
— [Mar 13, 09:45] Fransız yargısı kararını verdi... Uluslararası heyet Türkiye'yi haklı buldu (Odatv)Cem Uzan's final hope has ended with a crushing defeat in France.
— [Mar 13, 08:45] Cem Uzan'ın Paris'teki 'son umudu' hüsranla bitti! Uluslararası heyet Türkiye'i haklı buldu (Star.com.tr)Cem U zan received bad news from France after losing his $6.8 billion lawsuit.
— [Mar 13, 09:57] Cem Uzan'a Fransa'dan kötü haber! ... davayı kaybetti (Milliyet.com.tr)The Turkish State Financial Corporation won the case after a five-year duration in France.
— [Mar 13, 08:27] Fransız yargısı kararını verdi... Beş yıl süren ... TMSF kazandı Cem Uzan kaybetti (Odatv)